Blockchain based fintech company Ripple has invested $25m in XRP to Blockchain Capital’s most recent $150m fund, specifically Blockchain Capital Parallel IV, LP.
Based in San Francisco, Blockchain Capital is the first fund dedicated solely to the blockchain space and accepts capital calls in digital assets. It will focus on investing in entrepreneurial teams that are building businesses on blockchain technology.
Given Ripple’s focus on payments, the investment in Blockchain Capital allows the company to connect and develop inroads with entrepreneurs and companies focused on other use cases, including those that use the XRP Ledger and Interledger Protocol.
With offices in San Francisco, New York, London, Luxembourg, Mumbai, Singapore and Sydney, Ripple operates a global network that gives financial institutions the power to process their customers’ payments anywhere in the world instantly.
Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets.
The company has more than 100 customers around the world.
FinSMEs
12/04/2018